32665 Mesa Drive, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 4 bed, 3 bath
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32665 Mesa Drive
Lake Elsinore, California 92530
ACTIVE
CONDITION: GOOD
4Beds
3Baths
2,200Sq Ft
13,068Lot Size
Property Price
LIST PRICE$649,900
EST. MARKET VALUE
$624,609
4% AboveMARKET VALUE
SUMMARY
This Dual-Unit Residential Asset represents a High-Potential Investment Opportunity, listed at $649,900—positioned above the $624,609 Fair Market Value. While currently priced at a premium, the property offers significant utility through its 3-bedroom main house and detached guest cottage on a large 13,068 sq. ft. lot. Featuring a Condition Rating of 3, the home provides recent cosmetic updates while allowing for further mechanical modernization. With No HOA and dedicated RV/Toy Parking, this versatile property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking supplemental rental income.
Estimated Market Value
$624,609
Based on Realkey algorithm analyzing recent comparable sales in Lake Elsinore.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 32665 Mesa Drive Subject 4 bd · 3 ba · 2,200 sqft · $284 | $649,900* List Price | 4 | 3 | 2,200 | $284 | - |
A 32512 Wildomar Sold 3 bd · 2 ba · 1,438 sqft · $330 · 0.3 mi | $475,000 | 3 | 2 | 1,438 | $330 | 0.3 mi |
B 29342 Sword Fern Sold 3 bd · 3 ba · 2,112 sqft · $308 · 0.7 mi | $650,000 | 3 | 3 | 2,112 | $308 | 0.7 mi |
C 29301 Dogwood Sold 4 bd · 4 ba · 2,829 sqft · $256 · 0.6 mi | $725,000 | 4 | 4 | 2,829 | $256 | 0.6 mi |
D 20907 Malaga Road Active 4 bd · 2 ba · 1,435 sqft · $383 · 0.5 mi | $550,000 List Price | 4 | 2 | 1,435 | $383 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although built in 1978, the interior has undergone a recent cosmetic renovation (<5 years) featuring new LVP flooring, fresh paint, recessed lighting, and updated fixtures. The property is move-in ready, though the presence of older wall heaters and wall-mounted AC units, along with an unfinished exterior (aerials are virtually reimagined), prevents an Excellent rating.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13068, living area = 2200.
- Dual-Unit Income Potential
The property features two detached homes on a single lot, including a 3-bedroom main house and a separate guest cottage, providing an excellent opportunity for multi-generational living or rental income.
- Scenic Lake Views
Both residences are positioned to capture beautiful views of the lake, hills, and city lights, significantly enhancing the property's aesthetic appeal and market value.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2200, other record living area = 1248. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
- Dated Construction
Built in 1978, the homes may require significant capital investment for modernizing interior finishes and upgrading aging mechanical systems to meet current standards.
- High Lot Density
Fitting two detached structures and large vehicle parking on a 0.3-acre lot may result in a more crowded feel and limited traditional backyard space compared to single-family residences in the area.
About 32665 Mesa Drive
2 DETACHED HOMES, 1 LOT, NO HOA!!! Check Out the Virtual Walk-through on this Beautifully Situated Ranch Home with Detached Guest Cottage/Income Property- Both with Lake Views! Located in the City of Lake Elsinore close to the Freeway, Stadium and Downtown!! Featuring One Single Level 3 bedroom, 2 bath home with split concept, Laundry and Attached Direct Access 2 car Garage. Also featuring a Detached Cottage Home with RV/Toy Parking with Extra Large Lot Crossed Fenced for Individual Spaces between you and your Guest House as well as its own Laundry. This is a Year Round City with many Sites to Visit including Lake Elsinore's renowned Waterfront Campground, Dining and Boat Launch, The Ortega Highway that takes you to Historic Downtown San Juan Capistrano and less than 5 minutes to the freeway. Whether you love Shopping at the Outlet Mall, Riding at the Motocross Track, Watching Live Events, Parachuting at the Airport, or Catching a Game at Our Minor League Baseball Stadium, there's something for everyone. Lake Elsinore is home to Watersports Competitions, Fishing Derbies, Concerts, and so much more, ensuring endless fun and adventure. Your new home sits at the crossroads of Southern California's best destinations-just an hour from Sea World in San Diego, The Walk of Fame in Los Angeles, Disneyland, the Beaches of Orange County as well as a mere 1.5 hours, you can explore Coachella, Big Bear, Palm Springs, Morongo, and the Cabazon Outlets. It's no wonder people Buy here, Live here, and Love to call Lake Elsinore home! Come experience Lake Elsinore's ''Dream Extreme'' lifestyle--where anything is possible. Visit for the weekend and stay for a lifetime! Take a tour today! Incredible opportunity to call this your Home.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1978
- Lot Size
- 13,068 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 3.0 | 3.0 |
| Square foot | 2,200 | 2,014.188 |
| Lot Size | 13,068 | 7,537.856 |
| Price | $649.9K | $605.8K |
| Price per sq ft | $295 | $297 |
| Built year | 1978 | 2005 |
| HOA | $0 | $143 |
| Days on market | 19 | 70 |
Pricing History
Listed for Sale
Oct 6, 2026
$649,900
Initial Listing
Sold
Sep 9, 2004
$200,000
Public Record